Asset protection
Asset protection, choice of optimal tax residency and cyber security as key objectives – at all levels of family and corporate activity
Business & asset protection structures
The objective of strategic planning – which will usually involve detailed discussions with our clients and cooperating closely with their existing family advisors – will need to determine the optimal balance of tax and cost efficiency consistent with solid asset protection, capital preservation and reliable returns on investments.
The many kinds of exposure threatening family and business assets – in addition to risks of business losses and litigation (not to mention the risk of ‘frivolous’ litigation from unscrupulous litigation lawyers) – need to be planned for and protected against, including of course the normal exposure to tax, commercial, cyber and geo-political risks.
Asset protection structures are designed to build robust defences around your key family holdings and business assets and place them in entities and jurisdictions which afford the best environment for security and confidentiality.
Choice of residency & relocation options
The first and most important decision to take when structuring and protecting assets is to determine the principal residency (for tax purposes) of the ultimate owners of the assets and/or of the settlors and beneficiaries of the trusts that hold the assets. This is not identical to citizenship which (except for US persons) is not usually a prime determinant of tax treatment.
As wealth advisers to entrepreneur families for many years, we have long experience of residency planning and relocation of family members to minimize tax exposure and maximise asset protection.
Our Swiss team, and their actively maintained global network of top immigration specialists, give you access to the most attractive and sought-after jurisdictions, for re-settlement of family members and for the long term domiciliation of family businesses and property holdings. Often this will involve careful planning with the use of pre-immigration trusts or similar strategies to optimize personal & corporate tax exposure and estate planning.
Historically, migration both of entrepreneur families and their businesses has played a key role in the maintenance of family fortunes and the economic development of nations. As wealth planners, we wish to identify the best choices available and to assist families in implementing their chosen strategy in this area of fast-changing geopolitical threats and challenges.
Geo-politics, stable tax & legal environment, reliability of institutions
The choice of jurisdiction in which to reside and/or to base one’s core assets, trusts and holding company structures is critical. The number of “stable and attractive” countries, in which the politics, the economy & currency, tax rates, confidentiality and rule of law, are reliable and predictable, is changing and sadly diminishing. As a group, we have long experience of assisting clients with such choices, and of course we have particular experience with relocations of key family members to countries known for their respective (though sometimes quite different) tax benefits (such as Switzerland, Liechtenstein, Monaco, Italy, Spain, UAE, UK & US – to name but a few – as well as many stable, well regulated island nations around the world).
Cyber-security
In such a fast moving digital environment and the many challenges to our private data, from both legal and illegal sources, the protection of their data ranks highest in the defences which need to be offered to our clients and to their wealth holding structures.
Our priorities will include ensuring the highest available levels of legitimate privacy and of cyber security for our clients along with the minimum level of necessary reporting.
